Before Coronavirus shut down Waterloo Region, we had high demand and low inventory of homes for sale. During the first quarter of 2020, 1,327 homes were sold. This is 14.6% more than Q1 2019.
535 homes were available for sale in active status at the end of March. This is a decrease of 35.9% compared to March 2019.
51 listings were suspended in March due to Covid-19.
577 residential homes sold in March. This is an increase of 13.1% compared to March 2019.
The average sale price of all residential properties sold in March increased 15.3% to $583,752 compared to March 2019.
Detached homes sold for an average price of $679,728, an increase of 15.9%.
The median price of all residential properties sold in March increased 14.6% to $544,500
The median price of a detached home sold in March increased 16.2% to $628,500.
The absorption rate was 1.1 months supply.
The average days to sell in March was 15 days, compared to 21 days in March 2019.
Kitchener-Waterloo real estate channel